AES · 10-Q · 2026Q2 · Full report
AES Ohio Rate Plan
AES CORP · 2026-08-04 · Importance 21 · Surprise 42 · In source text
AES Ohio entered into an unopposed TYRP Settlement on July 21, 2026, establishing base distribution rates for 2027, 2028, and 2029 subject to annual true-up proceedings. The settlement provides for a 9.5% return on equity, subject to annual performance metrics, and remains conditional on PUCO approval. AES Ohio’s three-month 2026 Utilities SBU operating margin had already increased $22 million, including $38 million from higher retail rates following the 2024 DRC Settlement and incorporation of certain riders into base rates. Six-month Utilities SBU operating margin increased $100 million, including $84 million from the same higher retail rates and $31 million from higher transmission and rider revenues, partly offset by $16 million of higher fixed costs.
Key facts
- AES Ohio’s 2024 DRC Settlement in November 2025 resulted in $38 million higher revenue for the three months and $84 million higher revenue for the six months ended June 30, 2026. source
- Utilities SBU Operating Margin for the six months ended June 30, 2026 increased $100 million, primarily driven by $84 million due to higher retail rates from AES Ohio’s 2024 DRC Settlement and $31 million due to higher transmission and rider revenues source
- Utilities SBU drivers included $38 million due to higher retail rates as a result of AES Ohio’s 2024 DRC Settlement in November 2025 source
- On July 21, 2026, AES Ohio entered into an unopposed TYRP Settlement providing for base distribution rates for 2027-2029 with a 9.5% return on equity subject to annual performance metrics; settlement is conditioned upon PUCO approval and evidentiary hearing was held on August 4, 2026 source
- On November 10, 2025, AES Ohio filed an application with the PUCO to establish a Three-Year Rate Plan proposing rates for 2027, 2028, and 2029 source
- AES Ohio ordered to issue refunds totaling $11.1 million via a one-time bill credit on July 8, 2026. source
- Utilities SBU Operating Margin for the three months ended June 30, 2026 increased $22 million source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | realized | +2.9% | Utilities SBU Operating Margin for the six months ended June 30, 2026 increased $100 million, primarily driven by $84 million due to… |
| revenue | positive | realized | +2.5% | AES Ohio’s 2024 DRC Settlement in November 2025 resulted in $38 million higher revenue for the three months and $84 million higher revenue… |
| revenue | positive | realized | +1.1% | AES Ohio’s 2024 DRC Settlement in November 2025 resulted in $38 million higher revenue for the three months and $84 million higher revenue… |
| revenue | positive | probable | — | On July 21, 2026, AES Ohio entered into an unopposed TYRP Settlement providing for base distribution rates for 2027-2029 with a 9.5%… |